Daewoo Express Signs JV Agreement with Double Star Tires China

Daewoo Express Signs JV Agreement with Double Star Tires China 1

Daewoo Express in collaboration with MSD Tires have signed a joint venture agreement with Double Star China, one of the largest tire manufacturers in the world, to set up a state-of-the-art tire manufacturing plant in Pakistan.

Related: Federal Cabinet Approves Pakistan’s First EV Policy

Daewoo Express, led by Chairman Mr Sheheryar Chishty, has achieved a great milestone by bringing foreign direct investment in manufacturing sector with export potential that will help economic development in the country.

Daewoo Express Signs JV Agreement with Double Star Tires China 2

Prime Minister of Pakistan Mr Imran Khan being the honorable chief guest addressed the ceremony. He said that he was extremely delighted that tires, a commodity that was smuggled into the country in the past, will now be manufactured by Pakistan, paving the way for increased exports. The Prime Minister said:

 “Our foreign exchange will be boosted with the increased exports of goods. The greatest crisis we continue to face is our current account deficit. Now, our policy is focused on increasing exports, and by the grace of Allah, our exports are increasing and we have reduced our imports to overcome the current account deficit.”

He said that the economy is now headed in the “right direction” and his administration is focused on creating new job opportunities for the public and encouraging investors with a number of facilities.

Daewoo Express Signs JV Agreement with Double Star Tires China 3

According to the Prime Minister, the relations between Beijing and Islamabad are “better than ever before” and China’s senior leadership had taken a keen interest in undertaking joint ventures between the two countries. He said that his government is focused on facilitating Chinese companies, and “making it easier for them to enter the Pakistani market”.

0 0 vote
Article Rating
Share this

About UsmanAnsari

A 3d animation professional with over 19 years of industry experience, an avid car enthusiast, petrolhead and social media influencer. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com

View all posts by UsmanAnsari
Subscribe
Notify of
guest
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
David Edgar
10 months ago

Thank you for latest news. Best regards.